7/30/2009

Sophisticated investors welcome, family jewels not for sale

By Shamim Adam
July 29 (Bloomberg) -- Temasek Holdings Pte, reeling from the
aborted appointment of Charles "Chip" Goodyear, said it lost more than
S$40 billion ($27.7 billion) in asset value and that the sovereign fund
may allow public investment for the first time.
The Singapore investment company will seek "sophisticated
investors" and won't sell the "family jewels" for short-term gains,
Chief Executive Officer Ho Ching, the wife of Singapore's Prime Minister
Lee Hsien Loong, said in a speech today in Singapore. ...
All sophisticated Singaporeans are invited to invest in Temasek to take advantage of the expertise it has accummulated over the years. Temasek has a scintillating record of, if I remember correctly, registering 8% or 15% growth over the last couple of decades.
And Singaporeans should feel comforted that family jewels will not be sold. DBS, SIA, NOL, Singapore Land etc are safe for now. Unfortunately the power stations were not managed by Temasek. Or else they would not be sold. Was Raffles owned by Temasek before, and was it a family jewel, or was it a national heritage?
Let's make an effort to keep some of our inheritance and not to sell everything for a little short term monetary profit. Let's not sell Alaska!

there are many reasons for the fiasco in the investment strategy. some difficult to predict even with the talents of immortals. but some could be plain gullible, simply conned by the americans, buying into rotten eggs.

but with such an expensive tuition fee, i think temasek will be much wiser this time. if i have money i will put it with them. but bo lui liao.

it was reported that 40 billions was gone within a year or two, others suspect and speculate that it could be more.

As for HDB, many owners are in arrears and more should be joining in. As such, it is not easy for HDB to make 40 billions as as fast as Temasek lost theirs'. And what about others such as GIC, GLCs and Town Councils losses ?

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